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Teva Becomes Stalking Horse Bidder for BioXcel’s Neuroscience Assets in Bankruptcy

Teva Pharmaceutical Industries logoTeva Pharmaceutical Industries
Sig2.85Sen+2.60Env0.00Soc+0.90Gov+0.60
BioXcel Therapeutics logoBioXcel Therapeutics
Sig3.45Sen-7.10Env0.00Soc-1.20Gov-2.20

BioXcel Therapeutics filed for Chapter 11 after a cash crunch, selecting Teva as the stalking horse bidder. Teva will acquire substantially all assets for $57.5 million upfront plus up to $67.5 million in milestones, supported by a $5.7 million good-faith deposit. Assets include BXCL501, with FDA decisions expected by Nov. 14 and milestone payments tied to approval timing.

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